Abuja, Jan. 14, 2026 – The Economic and Financial Crimes Commission (EFCC) says it has handed over the N802,420,000 recovered from a customer whose account was wrongfully credited ted with N1.3 billion by First Bank of Nigeria Plc.
It said the N802,420,000 recovered from the customer had was handed over to the Benin Zonal Directorate of First Bank on Monday.
The EFCC disclosed this in a statement issued on Tuesday by its Spokesman, Dele Oyewale..
It said the suspect, Ojo Eghosa Kingsley, immediately took possession of the N1.3 billion wrongfully credited to his account by the bank due to system glitch.
The EFCC said its investigations revealed that Kingsley immediately transferred a substantial part of the N1.3 billion to the accounts of his mother, Itohan Ojo, and sister, Edith Okoro Osaretin, while spending some parts to erect a building and maintain a lavish lifestyle.
“Our investigation discovered that upon receipt, the suspect transferred a good measure of the funds to his family and diverted part to personal projects.
“With the recovery from identified accounts, the money was restituted to the bank in the form of drafts,” the EFCC said.
While receiving the recovered money, Olalere Ajayi, the Business Manager at First Bank in Benin, thanked the EFCC for its professionalism and prompt action.
